On July 11, attorneys general (AGs) from 15 states (AL, AZ, AR, GA, KS, MI, MT, NV, ND, OH, SC, TX, UT, WV, and WI) sent a letter to House and Senate leadership urging them to eliminate “burdensome and illegal” regulations by strengthening the Administrative Procedure Act. The AGs voiced concerns that federal agencies are acting outside their authority by issuing binding rules in the form of guidance documents, while circumventing the notice-and-comment process; failing to consider regulatory costs; and failing to fully consider the effect of their regulations on states and state law.
Associations NOW, Alex Beall
Trade Group Advocates to Protect Credit Access for Millions of Americans
AFSA/NADA Executives Address Key Issues
Jun 28, 2016
AFSA Supports H.R. 5485, House Financial Services and General Government Appropriations Act
Jun 23, 2016
On Thursday, AFSA submitted a letter to House Speaker Paul Ryan (R-WI) supporting H.R. 5485, the House Financial Services and General Government Appropriations Act, 2017. The letter expresses particular support for sections 502 and 503 which would subject the Consumer Financial Protection Bureau (CFPB) to the annual appropriations process and reconstitute the agency as a five-member commission.
AFSA Continues to Push for TCPA Modernization
Jun 13, 2016
On June 6, AFSA sent a letter to the Federal Communications Commission (FCC) reiterating its request that the FCC modernize the regulations implementing the Telephone Consumer Protection Act (TCPA).
On June 7, AFSA published it's initial analysis of the Consumer Financial Protection Bureau's (CFPB) small-dollar lending proposed rule. The document, which outlines several areas that will affect access to credit in the United States, may be found in the White Papers area under the Stay Informed tab.
WASHINGTON DC, June 2, 2016 – Today, the Consumer Financial Protection Bureau (CFPB) proposed its rule governing small-dollar lending. The bureau has been working for many months to craft the rule, but that hard work has, unfortunately, resulted in a proposal that will harm consumers’ access to safe, responsible credit.
The American Financial Services Association (AFSA) engaged the bureau several times during its discovery, drafting, and proposition of the small-dollar lending rule, especially as it relates to traditional installment lending.
Jonathon Levin, president & CEO, Turner Acceptance Corporation, received AFSA’s Outstanding Independent Award on May 19 during AFSA’s 33rdAnnual Independents Conference & Exposition in Phoenix, Ariz.
The hearing will feature remarks by CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives and members of the public. AFSA hopes to be invited to participate in the hearing, but at the very least, will be present to advocate for traditional installment lenders.The hearing will begin at 11:00 a.m. Eastern and be live streamed on the bureau’s website.